When I go, I want to be reincarnated as a leveraged hedge fund

News Snapshot:

Understanding why the value of US debt fell, forcing Donald Trump into a tariff U-turn may not be as simple as first thought. Photograph: Brendan Smialowski/AFP via Getty Images James Carville’s quote about wanting to be reincarnated as the bond market because “you can intimidate everybody” has got a good airing over the past few days. The US political strategist best known for helping Bill Clinton win the White House in 1992 by focusing on the economy would appear to have been vindicated once again by President Trump’s abrupt U-turn on reciprocal tariffs last Friday The reverse came after an...